For Rep. Miller’s Audio Statement, Click Here
WASHINGTON – In anticipation of Friday’s vote on the American Clean Energy and Security Act, also known as Cap and Trade, US. Rep. Candice Miller (MI-10) made the following statement:
“The Cap and Trade proposal the House will consider this week would be a hard blow that would further devastate the Michigan economy.
“There is no question that this bill will significantly drive up the cost of energy, particularly in states that are reliant upon coal, like Michigan where we currently generate two thirds of our energy from coal.”
“The rising cost of energy and compliance with new government regulations will artificially raise the cost for manufacturing companies and will force them to move operations to nations without such restrictions like China or India. We in Michigan have already felt the pain of the loss of far too many manufacturing jobs and this new government mandate on already struggling manufacturing companies will only lead to the loss of more jobs.
“The open auction of carbon credits will allow speculators to drive up costs and put our economy under further stress. We have experience with oil speculators artificially driving up the cost of gas at the pump and this legislation would allow them to do the same across the energy spectrum. While Wall Street speculators may get richer, families and job providers will suffer. I simply do not understand how some believe turning over this much power to the same people who wreaked so much havoc on our economy in recent years is sensible energy policy.
“Cap and trade is nothing more than a regressive new tax on American families and job providers. In fact Warren Buffett called this proposal a ‘huge tax’ and ‘fairly regressive’ that will harm ‘an awful lot of people.’ With so many challenges facing our nation now is the time to focus on creating new jobs not creating new big government schemes that will undoubtedly destroy them.”
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